Shares of ReSourcePhoenix.com (Nasdaq: RPCX), a provider of outsourced financial and business information solutions, rocketed more than 33 percent on Wednesday, gaining 2-5/16 to 9-5/16 one day after the company announced a strategic alliance with Broadvision. ReSourcePhoenix.com will integrate Broadvision’s products with its customers’ existing back-office operations.
On Wednesday, ReSourcePhoenix.com was upgraded to strong buy from buy by Thomas Weisel Partners. Earlier this month, Robertson Stephens reiterated its buy rating and 12-month price target of $18 on ReSourcePhoenix.com.
“Shares of ReSourcePhoenix.com are trading at just 2.6 times our 2000 revenue estimate of $24.9 million, representing an 80 percent discount to comparable companies and belies the aforementioned visibility of the company’s revenue stream in our view,” Robertson Stephens analyst Andrew Jeffrey said.
Loading ...
Social Media
See all Social Media